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Philips sells audiovisual branch on guitar manufacturer

Apr

28

2014

Philips sells its audiovisual branch sales, which ricocheted earlier, the American guitar manufacturer Gibson. The audiovisual branch, which allows, among other blu ray players and music, will remain operating under the name Philips.

Philips Gibson will pay Philips $ 135 million for the audiovisual branch, or approximately 98 million euros. This is substantially less than the 150 million euros that the Japanese company Funai Electric had to pay for the audiovisual branch, which include video players, headphones and docking stations makes. Sales to Funai, however, was in October discontinued because Funai would not complete the sale. Then the Dutch electronics maker brought the branch under a separate company called Woox.

The audiovisual branch will remain after the acquisition provisional release products under the Philips brand. Gibson Philips pays an additional fee, but that’s exactly how, the company intends to request not specify. The brand license is at least for the next seven years. Although Gibson also pays for the video branch, which include making blu ray players, which goes until about 2017.

Gibson is known primarily as a manufacturer of guitars; with the acquisition, the company wants in their own words are the largest technology company in the audio industry. In the audiovisual branch currently working people in 1900; it is unclear whether the acquisition has implications for them too. Previously sold Philips TV division already; Also that still operates under the brand Philips.